Mon, May 21, 2018
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Prologue Capital cautious on the great rotation, sees positive signs in US economy

Friday, March 01, 2013

amb
Tomas Jelf
Bailey McCann, Opalesque New York:

Prologue Capital, a London and Connecticut based, hedge fund focused on global macro sees a variety of cautiously positive trends in the US and global economies according to their most recent investor letter, obtained by Opalesque. The fund has approximately $2bn AUM. In the letter, Tomas Jelf, Chief Economist at Prologue Capital, notes that the US is leading the recovery out of the 2008 financial crisis and the housing sector is starting to show signs of strength that they expect to last for years to come.

Jelf notes that the 'great rotation' thesis advanced by some market participants may still be a bit early. He highlights recent reports from Credit Suisse showing that inflows continue into both bonds and equities, bolstered by the burgeoning growth trend. However, there are some clouds on the horizon, the high rates of unemployment, global economic deflation, and flare ups in the EU and Middle East could happen again.

In the letter, Jelf writes that the end of the payroll tax holiday and budget austerity in the US are likely to add a 1% drag on GDP. Jelf's feelings largely track other managers looking at macroeconomic factors as part of their investment strategy. In our recent Opalesque TV conversation with Patrick Wolff of Grandmaster Capital, he also sees the rise of 'fortress USA&......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. News Briefs - Warren Buffett: Target date funds aren't the way to go, Cambridge Analytica could be reborn under a different name[more]

    Warren Buffett: Target date funds aren't the way to go Planning for retirement can be complicated and stressful. This is why target date funds - funds that are managed based on when you expect to retire - are so attractive. Over time, the balance of stocks, bonds and cash evolve automati

  2. Investing - Hedge funds hike Smurfit Kappa positions amid takeover deal hopes, Hedge fund IBV Capital digs deep to unlock long-term value in a competitive market, Eisman of 'The Big Short' fame recommends shorting Deutsche Bank[more]

    Hedge funds hike Smurfit Kappa positions amid takeover deal hopes From Irishtimes.com: Two US hedge funds, Davidson Kempner and York Capital, have accumulated a combined 4.74 per cent interest in cardboard box maker Smurfit Kappa using financial derivatives. It comes as many investors cl

  3. Foundations of hedge fund managers gave big to controversial donor-advised funds[more]

    In the world of philanthropy and tax-deductible charitable giving, the explosion of donor-advised funds has touched off intense debate. Now, there is evidence that the DAF boom is being further fuelled by hedge fund foundation money. Four of the top five foundations that gave the most to large do

  4. Study: For hedge funds, smaller is better[more]

    From Institutionalinvestor.com: The smaller the hedge fund is, the better its performance is likely to be, according to a new study. The study - "Size, Age, and the Performance Life Cycle of Hedge Funds," released April 26 - sought to determine whether a hedge fund's size and age had any effect on i

  5. Hedge fund returns rose in April for first gain since January[more]

    From Bloomberg.com: Bloomberg Hedge Fund Database shows returns flat this year - Currency strategies had the biggest monthly gain at 13% Hedge fund returns increased 0.78 percent in April, reversing two consecutive monthly declines. The swing of 134 basis points was driven by gains in all seven